Tuesday, September 28, 2010

10 Reasons for Canadians to Invest in the Islands, According to Bahamas Real Estate Agency By Pinder

Old Bahama Bay Home For Sale by James Sarles Realty

NASSAU, BAHAMAS— Because if the increased interest among Canadians in purchasing Bahamas real estate for investment purposes, Island Living Real Estate has begun marketing Bahamas homes for sale through Canadian outlets.

As part of that marketing effort, Island Living Real Estate Agent Heather Carey recently created a list of 10 reasons Canadians should consider the Bahamas, said Rachel Pinder, Island Living’s principle broker.

“We realize that it’s important to do some research before investing in a foreign country, so I thought I would create this list to get would-be investors started on their research,” said Carey, who became a member of the Bahamas Real Estate Association as a sales agent in 2003. “I think potential investors will find the information beneficial in helping them make an informed decision.”

The 10 reasons Canadians should seek out Bahamas real estate for sale when considering investment properties are as follows:

1- The Country is Politically stable.
The Bahamas have experienced nearly 300 years of uninterrupted parliamentary democracy, giving it the distinction of being among the most stable countries in the world. The Bahamas also serves as a major financial center with more than 400 banks and trust companies.

2- English is the native language.
Being able to speak the language provides a great source of comfort among those who invest in real estate in other countries, Carey said.

“You want to know that when you visit your property- whether it’s for part of the year or just for a long weekend- you can communicate with others when you’re dining out, shopping or trying to locate services,” she said.

3- There is no income or inheritance tax.
The Bahamian government’s generates the bulk of its revenue from customs duties and company registration fees. There are no taxes for sales, corporate or personal income, withholding, capital gains, gifts, employment or inheritance. There also are no probate fees in the Bahamas.

4- A $500,000 investment means an accelerated path to permanent residency.
The minimum required investment for economic permanent residence is $500,000 on a home, according to The Bahamas Investor. Permanent residency and the ability to work in a resident’s own business typically is suited for those with a family office or who want to manage investments or a run a business that does not interact with the Bahamian economy. Having this status means a person has the right to work in The Bahamas.

5- It is easily accessible by air.
There are numerous flights daily from Nassau to all of the islands, and flights on multiple international airlines are available at as many as 10 airports in The Bahamas, depending on the season. Direct flights to and from Toronto are available, as well as to many destinations in the United States, European, South American and Caribbean.

Flights from Toronto are just three hours, while flying from Canada’s west coast take a bit more than six hours, Carey said.

6- Bahamas Properties hold their value.
The Bahamas real estate market has been virtually unaffected by the real estate slumps for several reasons. The Bahamas remain a prime tourist destination, and those who own Nassau Bahamas rentals tend to keep their properties rented as often as they like.

7- The most beautiful beaches and gin-clear waters in the world.
Maybe it’s the warm, pink sand. Or the cerulean waters. Or the gentle breezes kicking up from the ocean’s waves. Perhaps it is a combination of all of these, but there is no denying that The Bahamas feature some of the world’s most beautiful beaches, and that is greatly appealing to investors, Carey said.

Harbour Island Home photo: Lyndah Wells
8- World Class Fishing.
Whether it is bonefishing, reef fishing, spear fishing or deep sea fishing you’re interested in, The Bahamas has it.

The Bahamas is home to the finest sport fishing grounds in the world and serves as the host to multiple fishing tournaments throughout the year.

9-World Class Golf.
The Bahamas’ 10 golf courses and year-round beautiful weather make the islands ideal for golf any time, Carey said. Golf lovers looking to invest in Bahamas real estate might consider the islands of Great Exuma, New Providence/Paradise Island, Grand Bahama Island and Treasure Cay in the Abacos. There are three courses on Abaco, five on New Provdence/Paradise Island, four on Grand Bahama and one on Exuma.

10- Ethnic Diversity.
Variety is the spice of life, and variety abounds when it comes to ethnic diversity in The Bahamas.

Approximately 85 percent of the population is of African heritage, and other ethnic groups include whites, Hispanics and Asians.
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